February 3, 2012
So – you’re getting your Analytics stats. You can see where people are coming to your site from. You can see what keywords are generating the most visits. You can see how long people are spending on the most popular pages… It sounds like you’ve got some pretty good data, right?
Well – yes. But if your site sells products, there’s a pretty major piece of the jigsaw still missing – and that’s Ecommerce tracking. This nifty piece of Google code will tell you exactly where each sale is coming from, and how much it was. And believe me, it can put a whole new spin on the data you’re looking at.
Take the data from an AdWords campaign, for example. You may already be able to see what keywords get the best click-through-rates – but with Ecommerce tracking, you can also start to see which ones are actually converting. (And there’s every chance that the most clicked keywords are not the most highly converting ones.)
Now, you can, of course, monitor conversions without setting up Ecommerce tracking. By setting up ‘Goals’ in Analytics, you can effectively measure each time a purchase (or sign-up, or download, or whatever your desired ‘conversion’ is) happens. But what you can’t see is how much that sale is worth.
So perhaps your most highly converting keywords are actually generating low amounts of cash. And seemingly low-converting keywords, that you might have otherwise abandoned, are revealed as cash cows that should be milked.
Take the table below as an example:
“Beauty Products” may have the highest click-through-rate (CTR) and highest conversion rate, but actually, it generates the lowest revenue, because 15 people are buying a £5 product. Conversely, “Moisturisers” has a low CTR and low number of conversions, but because these people are buying a £25 product, it is actually the most valuable keyword for the business.
By having Ecommerce Tracking on your site, you can apply this logic to all of your marketing activities with complete accuracy. Gone are the days of wondering how many sales you got from that article in The Times. Now you can see exactly how many people visited your site from the article – AND how many of them then went on to buy your products – AND whether they were high value customers or not.